Independent Ireland MEP Ciaran Mullooly said a decision to suspend customs duties on selected fertilisers is "a reasonable development, but not a magic bullet".

The Council of the EU yesterday (Friday, May 22) confirmed it will suspend customs tariffs on key nitrogen-based fertilisers for one year.

The move could see €60 million slashed off import duties on crucial fertiliser inputs including urea and ammonia.

According to the council, this will reduce the EU's dependency on Russia and Belarus for fertiliser products and "help build a more diversified trading network in this area".

Fertiliser

MEP Mullooly welcomed the decision to remove tariffs on imported fertiliser from outside the EU for a 12-month period.

He said this is a "positive development" for Irish farmers as it removes most favoured nation (MFN) tariffs on fertiliser imports from countries trading with the EU.

The Midlands-North-West MEP said examples of countries affected by the MFN tariff suspension include:

Algeria: urea and ammonia;
Egypt: urea;
Trinidad and Tobago: ammonia;
United States: Ammonia.

The suspension is quota-limited and does not apply to fertiliser imports originating from Russia or Belarus.

While Mullooly said the measure as a practical step for Irish farmers, he stressed that further action is still required to tackle high fertiliser prices.

"The measure will lead to discounts for farmers - but not of the scale required.

"It amounts to about a €35 reduction in a tonne of fertiliser, which is nowhere near good enough, but we live in hope, it’s a start and the commission may still have to deal with calls to suspend the CBAM carbon tax before September if the crisis continues," the MEP said.